ST. CROIX INSIGHTS
Unexpected Death or Disability
BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC
What to do when the outcome is not what you expected? Now we know that outcomes can be both unexpectedly bad or good. Let’s get the bad news of unexpected death or disability out of the way first.
Unexpected death or disability is certainly bad news. I know, because I’ve been there. (Read more about my story in Bad Things Do Happen). Enough about me, though, I’ve also been there when it wasn’t about me when it was about my clients and friends. I’ve seen the results of unexpected death and disability firsthand and understand the havoc it wreaks, not just on surviving family members, but on a business.
The most important step to minimize these impacts (and forgive my redundancy, but it’s true) is planning. The more prepared you are in the event something should happen, the better off you are when something does happen.
Without the proper foundation, it is impossible to move up the pyramid of building wealth. Certain foundation elements that come in to play when unexpected death or disabilities strike are:
- Disability insurance
- Life insurance
- Long-term care insurance
- Medical insurance
- Estate plans
- Large short-term savings account
- Protecting your assets
Should you have any questions on the above or are concerned as to whether or not you’ve laid a solid foundation should the unexpected should arise, please do not hesitate to contact me today. I may be reached at firstname.lastname@example.org or 651-337-1919.
“Remember, the key to any wealth strategy is laying the proper foundation.”